GURNEE, ILL. — Weiman Products LLC has signed a 255,418-square-foot industrial lease renewal and expansion in Gurnee, about 40 miles north of Chicago. Previously occupying 155,000 square feet at the property, the surface care product manufacturer will now occupy the entire property. Developed by CenterPoint Properties in 2008, the building is located at 705 Tri-State Parkway and features 30-foot clear heights and 20 exterior docks. Whit R. Heitman, Sam Badger and Jared Paff of CBRE represented Weiman in the lease transaction.
PHOENIX — Bailard has purchased a 188,142-square-foot industrial building in Phoenix for $16.1 million. The facility is located at 7822 S. 46th St. in the Sky Harbor Airport submarket. The property is fully leased to BAE Systems. The seller, Cohen Asset Management, acquired the asset in 1992. Will Strong of Cushman & Wakefield and Rick Lee and Conner Lee of Lee & Associates represented both the buyer and seller in this transaction.
CHICAGO — American Street Capital (ASC) has arranged a $7.6 million bridge loan for a self-storage facility in Chicago’s Old Town neighborhood. The 55,418-square-foot facility consists of 885 traditional storage units and 490 wine storage units. Built in 1920, the property was converted into a self-storage facility in 1984. The bridge loan will be used for capital improvements to modernize the facility. Igor Zhizhin of ASC arranged the two-year loan.
KENOSHA, WIS. — CBRE has brokered the sale of a 70.9-acre land site in Kenosha for an undisclosed price. The land can accommodate for a total of more than 1 million square feet of development. Whit R. Heitman, Sam Badger, Brad Weiner and Jared Paff of CBRE represented both the buyer, Towne Realty Inc., and the seller, Bridge Acquisitions LLC, a division of Bridge Development Partners.
PLAINFIELD, IND. — Kuehne + Nagel has signed an industrial lease for an additional 78,300 square feet at Gateway Business Park in Plainfield, a suburb of Indianapolis. The Switzerland-based global logistics has occupied 55,000 square feet at the property since June and will now lease a total of 133,800 square feet. Known as Gateway Industrial IV, the 151,200-square-foot building is located at 845 S. Columbia Road. Chicago-based HSA Commercial Real Estate developed the building in partnership with Washington Capital Management. Gateway Industrial IV is the fifth and final building in the 40-acre park. John Hanley, Terry Busch and Jared Scaringe of CBRE represented ownership in the lease transaction.
FORT WORTH, TEXAS — T5 Data Centers, a data center owner and operator with facilities across the country, will co-develop a 324-acre data center campus in Fort Worth. Hillwood and IPI Data Centers Partners Management LLC, a San Francisco-based data center investment platform, will co-develop the campus, which will be situated within the 18,000-acre AllianceTexas community. At full build-out, the development will be capable of delivering 400-plus megawatts of power. A timetable for construction has not yet been established.
HOUSTON — NAI Partners has negotiated a 51,824-square-foot industrial lease at 16390 Park Row Drive in west Houston. Built in 1978, the single-tenant warehouse features 28-foot clear heights, three dock-high loading doors and a parking ratio of 0.57 spaces per 1,000 square feet. Darren O’Conor and Jake Wilkinson of NAI Partners represented the landlord, FMFV Warehousing Inc., in the lease negotiations. The tenant was not disclosed.
KATY, TEXAS — Atlanta-based Oakmont Industrial Group will develop a 673,785-square-foot warehouse within the master-planned West Ten Business Park in the Houston metro of Katy. Situated on a 42-acre parcel, the property is being developed on a speculative basis and will feature 36-foot clear heights, cross-dock loading, 56-foot wide column spacing, an ESFR sprinkler system and LED warehouse lighting. The property will also offer parking for 691 automobiles and 256 trailers, as well as quick access to the Grand Parkway/State Highway 99 interchange. Construction is scheduled for a July 2018 completion. John Simons and Holden Rushing of NAI Partners brokered the land sale and will represent Oakmont in leasing the property.
HOUSTON — JLL has negotiated a 181,450-square-foot industrial lease on behalf of Starplast, an Israeli manufacturer of plastics products, at North Point 8111, a 250,660-square-foot industrial building within Point North Cargo Park in Houston. Located at the intersection of FM 1960 and U.S. Highway 59, the facility will serve as the company’s base of U.S. manufacturing operations. Property features include a cross-dock configuration, 28-foot clear heights and fully fenced outside storage. Ryan Fuselier and Travis Secor of JLL represented Starplast in the lease negotiations. David Hudson of Duke Realty represented the landlord internally.
WILMINGTON, DEL. — Boxwood Industrial Park LLC, an affiliate company of Harvey, Hanna & Associates, has agreed to acquire the former General Motors assembly plant site, located at 801 Boxwood Road in Wilmington, for an undisclosed price. Wanxiang America Inc. is selling the 142-acre site, which includes more than 3 million square feet of former automobile manufacturing space, for an undisclosed price. Built in 1946, the site most notably served as a General Motors assembly plant until it closed in July 2009. The company plans to announce redevelopment plans for the site in the coming weeks.